Loan term
The period over which a loan is scheduled to remain outstanding before final repayment.
Related terms
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Business loan
Money lent for business purposes under agreed repayment, interest, security and other terms.
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Loan agreement
The contract setting out the terms of a loan, including amount, repayment, interest, security, covenants and default rights.
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Loan repayment holiday
A temporary agreed pause in scheduled repayments. Interest may continue to accrue, so the total amount payable can still increase.
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